Vestbee continues its exploration of the global startup and venture capital scene, highlighting inspiring female entrepreneurs driving business development. Previously, we surveyed countries like France, Italy, Finland, Denmark, Belgium, Austria, and Portugal. Despite being small in size, Iceland's startup ecosystem is expanding, reaching a total of $207 million across 19 funding rounds in 2023 — up from the previous year's $170 million. This growth is supported by local VC funds, accelerators, and incubators.
Here, Vestbee presents a list of the female startup founders and co-founders, CEOs and CTOs, Founding, and Managing Partners at funds from Iceland. To compile it, we first examined the VC funds that are most active in Iceland. We also researched female-led startups that are deeply involved in the ecosystem's development. Additionally, we gathered open-source information from datasets of several DaaS platforms, including Dealroom.co and Crunchbase, as well as LinkedIn. This allowed us to create a thorough list of the most engaged female contributors to the startup and VC ecosystem in Iceland. Below is the result.
Helga Valfells
Founding Partner, Crowberry Capital
Helga Valfells is an influential female figure in Iceland's market scene, known for her dynamic involvement. As a Founding Partner of Crowberry Capital, a venture capital fund focused on Nordic seed and early-stage startups, she plays a pivotal role in shaping the region's entrepreneurial landscape.
Jenny Ruth Hrafnsdottir
Founding Partner, Crowberry Capital
Jenny Ruth Hrafnsdottir, a Founding Partner at Crowberry Capital, is deeply committed to assisting founders in constructing strong teams. With her wealth of entrepreneurial experience and roles as a Board Member in various companies, she brings invaluable expertise to this endeavor.
Hekla Arnardóttir
Founding Partner, Crowberry Capital
Hekla Arnardóttir is a Founding Partner at Crowberry Capital, a VC specializing in backing seed and early-stage companies with global ambitions. What is more, she is a Board Member of several companies, including Katla, Monerium, Lucinity, and Aldin Dynamics.
Sigurlína Ingvarsdóttir
Founding Partner, Behold Ventures
Sigurlína Ingvarsdóttir is a Founding Partner of Behold Ventures, a Venture Capital firm committed to supporting and scaling early-stage technology startups with disruptive potential.
Soffía Theódóra Tryggvadóttir
Partner, Brunnur Ventures
Soffía Theódóra Tryggvadóttir is an experienced leader and an active female market player in Iceland. She is a Partner at Brunnur Ventures, an innovative VC fund dedicated to fostering growth and sustainability in Icelandic startups through strategic investments and hands-on support. Additionally, she serves as a Board Member in several companies, among others, Paxflow, Code North, and Taktikal.
Svana Gunnarsdottir
Founding Partner, Frumtak Ventures
Svana Gunnarsdottir is a Founding Partner of Frumtak Ventures. This Icelandic VC firm specializes in supporting innovative startups and entrepreneurs across various sectors. She actively supports the growth of the startup and VC ecosystem in Iceland and beyond.
Asthildur Otharsdottir
Partner Frumtak Ventures
Asthildur Otharsdottir serves as a Partner at Frumtak Ventures. Additionally, she assumed the role of Chairman Of The Board Of Directors at several companies, including Controlant, Kaptio Travel, Empower, and Treble Technologies.
Herdis Dröfn Fjeldsted
Chairman of the Board of Directors, Eyrir Venture Management
Herdis Dröfn Fjeldsted serves as a Chairman of The Board of Directors at Eyrir Venture Management. What’s more, she is the CEO of Valitor, a payment platform.
Marta Hermannsdottir
Investment Manager, Eyrir Venture Management
Marta Hermannsdottir assumes the Investment Manager position at Eyrir Venture Management, an investment firm based in Iceland, focusing on fostering growth and innovation in promising companies across diverse industries.
Íris Baldursdóttir
Co-founder & CEO, Snerpa Power
Íris Baldursdóttir serves as a co-founder and CEO of Snerpa Power, a company dedicated to providing innovative solutions in sustainable energy, aiming to revolutionize how energy is produced and utilized.
Paula Gould
Co-founder, WomenTechIceland
With several years of experience, and working across multiple countries, Paula Gould co-founded WomenTechIceland, a platform dedicated to empowering and advancing women in technology, fostering a supportive community, and facilitating opportunities for growth and collaboration in the tech industry.
Sigyn Jonsdottir
Co-founder & CTO, Alda
Sigyn Jonsdottir is a co-founder and a CTO at Alda, an Icelandic tech company which developed a DEI software for workplaces globally.
Safa Jemai
CEO, Víkonnekt
Safa Jemai is an active female entrepreneur. She is the CEO of Víkonnekt, a platform designed to facilitate connections and networking opportunities within the Icelandic community, fostering collaboration and growth across various sectors. What is more, Safa is an International Partner at the World Business Angels Investment Forum, where she represents Iceland.
Alexandra Leeper
Co-founder, Hringvarmi
Alexandra Leeper is passionate about sustainable development, education, and innovation, so it is not surprising that she is a co-founder of Hringvarmi, a tech startup that utilizes excess heat from data centers to fuel controlled environment food production in purpose-built biomes. Additionally, Alexandra serves as a Managing Director of the Iceland Ocean Cluster.
Stefania Olafsdottir
CEO & co-founder, Avo
Stefania Olafsdottir is a co-founder and the CEO of Avo, a platform that simplifies and streamlines the process of improving the quality of event data at the upstream stage. Additionally to her role at Avo, Stefania is a Mentor at Startup Reykjavík.
Tanya Zharov
Deputy CEO, Alvotech
Tanya Zharov is an experienced female entrepreneur, leader, and startup supporter, having over 20 years of experience. Currently, she assumes the Deputy CEO position at Alvotech, a global biopharmaceutical company dedicated to developing and manufacturing high-quality biosimilar medicines to address unmet medical needs.
Kolbrun Hrafnkelsdottir
Board Member, The Association of Icelandic Startup Companies
Kolbrun Hrafnkelsdottir is a Board Member at The Association of Icelandic Startup Companies, which is pinpointing growth opportunities and fostering an environment for Icelandic startups, while also facilitating collaboration among industry stakeholders, government representatives, and seed/startup enterprises.
Gudny Nielsen
Founder & CEO, SoGreen
Gudny Nielsen is passionate about sustainability. She is a founder and the CEO of SoGreen, an innovative Icelandic company focused on sustainable solutions, specializing in the development of eco-friendly products and technologies to promote environmental conservation and renewable energy.
Kathryn Gunnarsson
Founder, Geko
Kathryn Gunnarsson is a founder of Geko, a platform that connects employers with employees, by focusing on talents in STEM fields: Science, Technology, Engineering, Arts, and Mathematics. What is more, she is a Founding Committee Member at FKA, the Association of Businesswomen in Iceland.
Agnes Rún Flosadóttir
Co-founder, FitTales
Agnes Rún Flosadóttir is a co-founder of FitTales, a platform dedicated to empowering individuals through inspiring fitness stories, expert advice, and personalized training programs, fostering a supportive community focused on health and wellness.
Heiðrún Ósk Sigfúsdóttir
Founder & CEO, Catecut
Heiðrún Ósk Sigfúsdóttir is the founder and CEO of Catecut, a customized software solution designed specifically for online fashion retailers, aimed at streamlining operations, minimizing waste, and enhancing brand perception among customers.
Katrin Olga Johannesdottir
CEO, Elma
Katrín Olga Johannesdottir has extensive management and board experience and became the first female Chairman of the Icelandic Chamber of Commerce. Currently, she is the CEO of Elma, a company providing innovative solutions in the fields of renewable energy and sustainable technology.
Sesselja Vilhjalmsdottir
Co-founder & CEO, Tagplay
Sesselja Vilhjalmsdottir is an experienced entrepreneur, having co-founded several companies. Currently, she serves as CEO at Tagplay, a startup specializing in immersive digital experiences, transforming how brands interact with their audiences through innovative platforms.
Thorey V. Proppe
Founder & CEO, Alda
Thorey V. Proppe is the CEO and founder of Alda, an Icelandic tech company which developed a DEI software for workplaces globally.
Eyrun Linnet
Co-founder & CTO, Snerpa Power
Eyrun Linnet assumes the role of CTO and is a co-founder of Snerpa Power, a renewable energy company focused on providing innovative solutions for sustainable power generation and distribution.
Fida Abu Libdeh
Founder at GeoSilica Iceland
Despite being originally from Jerusalem, Fida Abu Libdeh has influenced the development of Iceland's startup ecosystem, notably as the founder of GeoSilica, a wellness startup specializing in premium silica supplements sourced from Icelandic geothermal water, targeting the enhancement of skin, hair, and nails' health.
Tristan Elizabeth Gribbin
Founder & CEO, Flow
Tristan Elizabeth Gribbin is the founder and CEO of Flow, a meditation app dedicated to guiding users on their journey to mindfulness and mental well-being. With a focus on providing accessible and effective meditation practices, Tristan leads Flow in offering tools and resources that promote relaxation and inner balance for individuals seeking to enhance their overall wellness.
Kolbrun Eydis Ottosdottir
Co-founder & CCO, Nox Medical
Kolbrun Eydis Ottosdottir is a co-founder and CCO of Nox Medical, a leading provider of sleep diagnostic solutions, specializing in innovative technologies and services aimed at improving the diagnosis and treatment of sleep disorders.
Thora Bjork Elvarsdottir
Co-founder & CTO, Flow
Thora Bjork Elvarsdottir is a co-founder and the CTO of Flow, a meditation platform, that offers professional guidance and tools to enhance mindfulness practices and promote mental wellness by using VR technology.
Justine Vanhalst
Co-founder, Hringvarmi
Together with Alexandra Leeper, Justine Vanhalst co-founded Hringvarmi, a tech startup. What is more, she is a Project Manager at Iceland Eco-Business Park.
Steinunn Anna Gunnlaugsdóttir
CEO, Locatify
Steinunn Anna Gunnlaugsdóttir, assumes the CEO role at Locatify, a pioneering location-based technology company, offering innovative solutions for indoor and outdoor positioning, guided tours, and gamified experiences.
Valgerdur Skuladottir
Founder and Chief Executive, Sensa
Valgerdur Skuladottir is the founder and Chief Executive of Sensa, an advanced hosting provider and system integrator, focusing on enterprise infrastructure solutions for the next generation.
Gamithra Marga
Founder, TVÍK
Gamithra Marga is a founder of TVÍK, a language teaching bot powered by AI that enables learners to achieve full conversational proficiency within three months.
Thorbjorg Helga Vigfusdottir
CEO, Kara Connect
Thorbjorg Helga Vigfusdottir is the CEO of Kara Connect, a pioneering well-being platform revolutionizing access to mental health services. With her leadership, Kara Connect offers innovative solutions that connect patients with qualified therapists, ensuring accessible and effective mental healthcare for all.
Helga Waage
Co-founder & CTO, Mobilitus
Helga Waage co-founded Mobilitus. The company focuses on providing technical solutions tailored for the entertainment sector, particularly emphasizing mobile solutions, event discovery, ticket sales, and maximizing return on investment for artists and event promoters.
Adalheidur Hreinsdottir
Founder & CEO, LearnCove
Adalheidur Hreinsdottir is the founder and CEO of LearnCove, a pioneering educational technology company dedicated to revolutionizing learning experiences through immersive virtual environments for all employees.
Iris Gisladottir
Co-founder, Evolytes
Iris Gisladottir is the co-founder of Evolytes, an interactive learning platform designed to empower users with personalized educational experiences to help them learn mathematics faster.
Edda Konráðsdóttir
Co-Founder, Iceland Innovation Week
Edda Konráðsdóttir's dedication to fostering innovation growth is underscored by her role as a Co-Founder of Iceland Innovation Week, an event committed to cultivating creativity, collaboration, and exploration within Iceland's innovation ecosystem.
Melkorka Sigríður Magnúsdóttir
Director, Iceland Innovation Week
Melkorka Sigríður Magnúsdóttir, an accomplished director and entrepreneur, serves as a Director of Iceland Innovation Week, a prominent festival centered around innovation.
Margrét Anna Einarsdóttir
Founder & CEO, Justikal
Margrét Anna Einarsdóttir is a Founder and the CEO of Justikal, an electronic court system designed to enable various stakeholders to manage documents securely and reliably, leveraging eIDAS-compliant trust services.
Þórhildur Gunnarsdóttir
CEO, Sweeply
Þórhildur Gunnarsdóttir is the CEO of Sweeply, a platform specializing in task management and work organization within the hospitality industry.
*Undoubtedly, the startup and VC ecosystem in Iceland is powered by many inspiring and impactful women, which is why our list is not closed, and we appreciate every involvement! If there is anyone missing from this collection, or anything is wrong, please drop us a line.
